Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,843 shares of the semiconductor company’s stock after purchasing an additional 745 shares during the quarter. Amalgamated Bank’s holdings in Lam Research were worth $23,538,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the second quarter valued at $32,000. RFP Financial Group LLC increased its position in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research in the second quarter valued at $40,000. Country Trust Bank purchased a new position in shares of Lam Research in the second quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lam Research in the second quarter valued at $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Morgan Stanley dropped their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group lowered their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Trading Down 0.8 %

LRCX stock opened at $74.17 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $62.81 and a twelve month high of $113.00. The business has a fifty day moving average of $77.94 and a 200-day moving average of $88.82. The company has a market cap of $95.43 billion, a P/E ratio of 23.97, a PEG ratio of 1.19 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the firm earned $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. Lam Research’s payout ratio is 29.74%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.